Image
Thomas Sterner
Photo: Johan Wingborg
Breadcrumb

COP28 in Dubai: "A risk that oil interests have too much influence"

Published

On Thursday, the world's leaders will gather for this year's UN Climate Summit COP28 in Dubai. Thomas Sterner, Professor of environmental economics at the School of Business, Economics, and Law in Gothenburg, explains some of the major negotiation issues.

The climate summit is held in an oil-rich state, and the chairperson is the head of the state-owned oil company. What significance does the host country have for COP28?

– One can't ignore that this is quite unusual. Fossil fuel companies are a significant part of the problem both through their activities and their lobbying. There is an obvious risk that their oil interests may have too much influence. At the same time, these countries are very important players, and it is crucial to somehow involve them in the negotiations. They could also become key players in renewable energy and synthetic fuels in the future.

What are the most important issues for countries to discuss?

– The most crucial issue is the global review of the parties' climate actions, called Global Stocktake. It is an evaluation of how individual countries are progressing with their plans to fulfill the 2015 Paris Agreement. This review should essentially take place every five years. This is the first one and will serve as the basis for shaping future national plans to be submitted in 2025.

– Another important point is the question of phasing out fossil fuels. It may sound obvious, but producer countries, like the host country Dubai, want to focus on emission phase-out. Thus, the issue of Carbon Capture and Storage (CCS) technology, a technique to capture and store emissions, is likely to be a significant question. Parts of the environmental movement are very negative about CCS as a false solution precisely because oil-producing countries support it. However, I still think it's important to view CCS positively without assuming that it gives a free pass to continue with fossil fuels...

– Financing issues will surely also be central. Poor countries naturally emphasize this. There are ongoing discussions about financing technological solutions and adaptation to cover losses and damages that occur. This is particularly relevant for poor countries that have limited capabilities to bear these costs. Rich countries have long promised large amounts, often mentioning one hundred billion euros. However, relatively few concrete funds have materialized, even though agreements, such as around 8 billion for climate issues with South Africa, are underway. There are signs, though, that slightly larger amounts are finally emerging.

How important is it for negotiations that civil society, such as Greenpeace, has the right to act and protest during the meeting?

– It is obviously important that everyone can act at this type of meeting. There has previously been a tradition of fairly substantial side events. It may be a challenge in a country like Dubai.

COP28

The UN climate summits, COP, are held at different locations every year. COP stands for "Conference of the Parties" and refers to the parties in the UN climate convention.

This year's edition is taking place in Dubai, United Arab Emirates, from November 30 to December 12. Leading the summit is Sultan Ahmed al-Jaber, CEO of the Abu Dhabi National Oil Company (Adnoc).